Rates Fall Back to Week’s Best Levels After Jobs Report

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Posted To: Mortgage Rate Watch

Mortgage rates moved lower today following a mixed report on the US labor market. The once-a-month Employment Situation (the official name for the “jobs report” that often influences interest rates) was out this morning and it had something for everyone. For those who’d like to remain upbeat on the labor market, there was a 196k increase in the number of jobs created in March, which compared favorably to forecasts calling for 180k. Had this been the only data point, rates may have moved higher (stronger economy/job market = higher rates, all other things being equal). But other components painted a different picture. For those who wanted to see the glass half empty , there was a decrease in the percentage of adults who considered themselves part of the workforce. That’s not necessarily a bad…(read more)

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